Bank customers to pay N6.98 for each USSD transaction
Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs) have agreed to charge customers using unstructured supplementary service data (USSD) service a flat fee of N6.98 for each transaction.
In a press statement released by the Central Bank of Nigeria (CBN)jointly with the Nigerian Communications Commission (NCC) on Tuesday, 16th March 2021 the new charges takes the place of the current per billing structure.
Telcos recently declares their plan to stop USSD services over the debt of N42 billion owed by financial service providers.
Isa Pantami, minister of communications and digital economy, while reacting to the development asked the telcos to halt their strike.
According to the joint statement, Pantami organized a meeting of key stakeholders to discuss a suitable way that will benefit the interest of the general public.
From March 16, USSD services for financial transactions conducted at DMBs and all CBN – licensed institutions will be charged at a fee of N6.08 per transaction.